Axis Business Cycles Fund

Q: What are the returns of this mutual fund scheme?

The Axis Business Cycles Fund is a 3 yrs old fund and has delivered average annual returns of 17.55% since inception. Axis Business Cycles Fund Returns 1-Year Since Inception 5.85% 17.55%

Q: How much does this mutual fund charge as expense ratio?

The Axis Business Cycles Fund has an expense ratio of 2.06% , representing the annual cost of managing and operating the fund. This fee is deducted from the fund's AUM while declaring the daily NAV, reducing investor returns.

NAV as of Feb 02, 2026	Returns since inception	ET Money Rank	AUM (Fund size)
₹16.11-1.17% 1 day change	17.55% p.a.	App exclusive #NA View Ranked Funds	₹2,213 Cr

Historical NAV & returns

NAV: ₹16.11 as on Feb 02, 2026

This fund Category average

Axis Business Cycles Fund overview

AUM (Fund size)	₹2,213 Cr
Exit load	1.0% Exit Load for units in excess of 10% of the investment,1% will be charged for redemption within 12 months.!
Lock-in Period	Nil
Age	3 yrs since Feb 02, 2023
Benchmark	NIFTY 500 TRI
Min. investment	SIP: ₹1000 & Lumpsum: ₹1000
Expense ratio	2.06% as on Jan 29, 2026
Plan type	Regular
Risk	Very High
Short term capital gains (STCG)	Returns taxed at 20% if you redeem before 1 year
Long term capital gains (LTCG)	After 1 year, returns above ₹1.25 lakh in a financial year are taxed at 12.5%

Axis Business Cycles Fund Returns calculator

Investment type

Monthly investment

₹ 10,000

Investment period

Lumpsum investment

₹1 lakh

Investment period

Disclaimer: Products compared like fixed deposits may provide fixed guaranteed returns. Mutual Funds investments are subject to market risk, read all scheme related documents carefully. Past performance is not an indicator of future returns.

Total investment ₹ 12 lakh
Profit ₹12 lakhs
Total corpus ₹1 lakh
Absolute return 52.69%

Trailing returns as on Jan 31, 2026

Period	This fund	Category average
1 Month	-4.45%	-8.79%
3 Months	-4.28%	-8.32%
6 Months	-2.07%	-5.01%
1 Year	5.85%	0.77%
2 Years	8.05%	3.92%

View returns in detail

Asset allocationas on Dec 31, 2025

Large Cap 58.96%

Mid Cap 17.48%

Small Cap 21.4%

Other Cap 0%

Top holdings

ICICI Bank Ltd.6.56%

HDFC Bank Ltd.4.03%

Infosys Ltd.3.5%

Larsen & Toubro Ltd.3.38%

Top sectors

Financial 26.379999999999995%

Automobile 10.090000000000002%

Services 9.23%

Capital Goods 8.42%

Credit quality

Bifurcation by Credit Quality is not available for this fund

Top Debt Holdings

Others 2.02%

Reserve Bank of India 0.45%

Allocation by Instruments

CBLO 2.01606272%

Treasury Bills 0.44744389%

Other Holdings

Bifurcation by Holding is not available for this fund

Detailed portfolio analysis

Peer comparison

Fund name	1M	6M	1Y	3Y	5Y	10Y
Axis Business Cycles Fund	-4.45%	-2.07%	5.85%	N.A.	N.A.	N.A.
ICICI Prudential India Opportunities Fund	-3.02%	5.18%	11.87%	22.83%	24.41%	13.86%
ICICI Prudential Value Fund	-3.55%	3.69%	11.27%	19.95%	20.57%	16.67%
ICICI Prudential Dividend Yield Equity Fund	-3.71%	3.15%	10.38%	22.01%	23.15%	17.4%
ICICI Prudential Diversified Equity All Cap Omni FoF	-4.85%	1.14%	8.2%	20.31%	19.81%	11.98%
SBI Contra Fund	-3.77%	1.88%	6.55%	19.59%	21.15%	17.19%

Fund name	Std. deviation	Beta	Sharpe	Sortino
Axis Business Cycles Fund	N.A.	N.A.	N.A.	N.A.
ICICI Prudential India Opportunities Fund	11.3	0.83	1.35	2.2
ICICI Prudential Value Fund	11.09	0.81	1.18	2.0
ICICI Prudential Dividend Yield Equity Fund	11.93	0.87	1.26	1.98
ICICI Prudential Diversified Equity All Cap Omni FoF	11.66	0.89	1.16	1.79
SBI Contra Fund	12.07	0.91	1.07	1.65

Fund name	ETM Rank	AUM	Fund age	Expense ratio
Axis Business Cycles Fund	N.A.	2,213 Cr	3 yrs	2.06%
ICICI Prudential India Opportunities Fund	N.A.	34,779 Cr	7 yrs 1 m	1.57%
ICICI Prudential Value Fund	N.A.	61,272 Cr	21 yrs 6 m	1.48%
ICICI Prudential Dividend Yield Equity Fund	N.A.	6,400 Cr	11 yrs 9 m	1.8%
ICICI Prudential Diversified Equity All Cap Omni FoF	N.A.	258 Cr	5 yrs 11 m	1.02%
SBI Contra Fund	N.A.	49,967 Cr	20 yrs 8 m	1.5%

View all Strategy funds

Key risk & return ratios Compared to other funds in the category

Risk ratios are based on three-year data. The required data is unavailable for the scheme.

Compare Axis Business Cycles Fund in detail with

About this fund

About Axis Business Cycles Fund

Axis Business Cycles Fund is a Strategy mutual fund scheme from Axis Mutual Fund. This fund has been in existence for 3 yrs, having been launched on 02/02/2023. Axis Business Cycles Fund has ₹2,213 Crores worth of assets under management (AUM) as on 31/12/2025 and is medium-sized fund of its category. The latest Net Asset Value (NAV) of Axis Business Cycles Fund as of 02/02/2026 is ₹16.11. The fund has an expense ratio of 2.06%, which is higher than what most other Strategy funds charge.

Axis Business Cycles Fund returns of last 1-year are 4.65%. Since launch, it has delivered 17.56% average annual returns.
The fund has the majority of its money invested in Financial, Automobile, Services, Capital Goods, Healthcare sectors. It has taken less exposure in Financial, Automobile sectors compared to other funds in the category.
The fund's top 5 holdings are in ICICI Bank Ltd., HDFC Bank Ltd., Infosys Ltd., Larsen & Toubro Ltd., Ultratech Cement Ltd..

...

Fund AUM	2,213 Cr as on Dec 31, 2025
Scheme document	View Scheme Document

Fund managers

Ashish Naik

Mr. Naik is a B.E from Mumbai University and MBA from XLRI, Jamshedpur. Prior to joining Axis Mutual Fund he was associated with organizations such as Goldman Sachs and has over 7 years of experience as an Equity Analyst.

Investment objective

The scheme seeks to provide long term capital appreciation by investing predominantly in equity and equity related securities with a focus on riding business cycles through dynamic allocation between various sectors and stocks at different stages of business cycles in the economy.

Axis Mutual Fund details

No. of schemes	70 view all schemes
Total AUM	3,65,749 Cr as on Dec 31, 2025
Address	23rd Floor, One Lodha Place, S. B. Road, Lower Parel. Mumbai, 400013
Phone	022-24255161

More funds from Axis Mutual Fund

Fund name	ETM Rank	AUM	1Y	5Y
Axis US Specific Equity Passive FoF	N.A.	191 Cr	26.16%	N.A.
Axis Small Cap Fund	N.A.	26,547 Cr	0.35%	19.17%
Axis Large & Mid Cap Fund	N.A.	15,616 Cr	6.29%	16.29%
Axis Midcap Fund	N.A.	31,717 Cr	6.18%	15.88%
Axis Global Equity Alpha FoF	N.A.	1,441 Cr	24.18%	15.47%
Axis Nifty Midcap 50 Index Fund	N.A.	584 Cr	11.06%	N.A.

See all Equity funds from this AMC

Frequently asked questions

What is the current NAV of Axis Business Cycles Fund?

The current Net Asset Value (NAV) of the Axis Business Cycles Fund plan is approximately ₹16.11 as of Feb 02, 2026.

What are the returns of this mutual fund scheme?

The Axis Business Cycles Fund is a 3 yrs old fund and has delivered average annual returns of 17.55% since inception.

Axis Business Cycles Fund Returns

1-Year	Since Inception
5.85%	17.55%

How much does this mutual fund charge as expense ratio?

The Axis Business Cycles Fund has an expense ratio of 2.06%, representing the annual cost of managing and operating the fund. This fee is deducted from the fund's AUM while declaring the daily NAV, reducing investor returns.

What is the AUM or fund size of this mutual fund?

The Axis Business Cycles Fund currently has assets under management (AUM) or fund size valued at approximately 2,213 Cr as on Dec 31, 2025.

What are the top stock holdings of Axis Business Cycles Fund?

The Axis Business Cycles Fund has invested the majority of its money in the stocks of the following companies -

Company	Percentage of Portfolio
ICICI Bank Ltd.	6.56%
HDFC Bank Ltd.	4.03%
Infosys Ltd.	3.5%
Larsen & Toubro Ltd.	3.38%
Ultratech Cement Ltd.	3.18%
Bharti Airtel Ltd.	2.65%
Kotak Mahindra Bank Ltd.	2.61%
State Bank of India	2.58%
Shriram Finance Ltd	2.48%
Mahindra & Mahindra Ltd.	2.24%

What are the top sectors Axis Business Cycles Fund has invested in?

The Axis Business Cycles Fund has primarily invested in the following sectors

Sector	Percentage of Portfolio
Financial	26.379999999999995%
Automobile	10.090000000000002%
Services	9.23%
Capital Goods	8.42%
Healthcare	6.390000000000001%
Metals & Mining	6.13%
Technology	5.86%
Construction	5.11%
Materials	4.73%
Chemicals	4.27%

What is risk level of Axis Business Cycles Fund?

This is a Strategy fund comes with Very High risk.

Is there any lock-in period in this mutual fund?

No, this fund does not have any lock-in period.

How can I redeem my investments in Axis Business Cycles Fund?

Redeeming your investments in the Axis Business Cycles Fund is simple. If you have invested via ET Money, just log in to the app, go to the holdings section, and submit the redemption request.

If you have invested from anywhere else, you can go to the fund house website and put a request through it.

ET Money rank

App exclusive

in Strategy

#NA

Return Outperformance: This fund has generated highest return amongst Strategy funds in the last 2 Years.
Return/Risk: The fund is performing poorly than its category.
Exit Load: Exit Load for units in excess of 10% of the investment,1% will be charged for redemption within 12 months.